Duplex with Attached
For Sale
$2,300,000
62-79 60th Street, Ridgewood, NY 11385
Two vacant two-bedroom units are paired with a substantial garage component for a potential live-work configuration.
Property Size4,250 SF
Price / SF$541.18
Days on Market9
Property Features for 62-79 60th Street
General Information
Standard status
Active
Size
4,250 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,654
Amenities
Partial
Yes
4
First Floor Full Bath
Public
No
Attached
4250
Building Details
Building Size
4,250 SF
Year Built
1920
Construction
frame
Listing Agency:
(516) 703-2918
Listed By:
Sooyeon (Kelly) Moon
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 2:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sooyeon (Kelly) Moon
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Investment Insights
Based on property information with market context.
This two-family frame property at 62-79 60th Street in Ridgewood includes two vacant two-bedroom residences and an attached 2,500-square-foot garage. The garage has a 12-foot ceiling and a 10-foot overhead door. The property dates to 1920 and is scheduled to be vacant at closing.
A live-work arrangement is identified as a possible direction for the property. Any proposed garage use is subject to the buyer’s verification of applicable legal requirements.
A live-work arrangement is identified as a possible direction for the property. Any proposed garage use is subject to the buyer’s verification of applicable legal requirements.
Key Highlights
- Two‑family property with two vacant two‑bedroom units
- Attached 2,500‑square‑foot garage
- Garage has a 12‑foot ceiling and a 10‑foot overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,926
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,798,520
$2.8M
Cap Rate 7%
$1,998,943
$2.0M
Cap Rate 9%
$1,554,733
$1.6M
Market Conditions
NOI Build-Up for 4,250 SF
Gross rent
$214.2K $50.40/SF
− Vacancy
−$27.6K −$6.50/SF
EGI
$186.6K $43.90/SF
− OpEx
−$46.6K −$10.97/SF
NOI
$139.9K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,798,520
Cap Rate 7%
$1,998,943
Cap Rate 9%
$1,554,733
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.33M
NOI $139,926 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,889 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$3.13M
$2.74M – $3.66M
NOI $219,320 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,766
Businesses Nearby
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Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two vacant two-bedroom units are paired with a substantial garage component for a potential live-work configuration.
Where is this duplex located?
The property is located at 62-79 60th Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two‑family property with two vacant two‑bedroom units; Attached 2,500‑square‑foot garage; Garage has a 12‑foot ceiling and a 10‑foot overhead door
